Below is a look at the historical market cap of the US equity market using the Russell 3,000. The Russell 3,000 is a combination of the Russell 1,000 large-cap index and the Russell 2,000 small-cap index, and it covers roughly 98% of total US market cap.
In 2018, US market cap fell $2.5 trillion from $29.3 trillion at the start of the year to $26.8 trillion at year end. At the peak in September 2018, US market cap was at $31.8 trillion, so we’ve seen a loss of $5 trillion in market cap from the highs.
On Election Day 2016, market cap stood at $23.7 trillion, so we’ve seen a gain in market cap of $3.1 trillion since Trump was elected. Since Trump took office in January 2017, we’ve seen an increase in market cap of roughly $1.47 trillion.
As shown below, at the lows in 2009, US market cap had gotten all the way down to $7.6 trillion!